Requirements and Setup
- Team or Business Bundle
- EIN must be setup for each client.
Step |
Without Finch |
With Finch |
1. Finch Onboarding |
N/A |
1. Email connect URL to your sponsors. You can do this in bulk via PensionPro’s blast email feature. 2. Before we generate the year end files for Pension Pro across your connected sponsors in January, we’ll work with you to validate: - Pay statement mapping for any earnings or deductions that Finch cannot map to the Pension Pro file. - Eligible Compensation: We will assume that all W2 compensation is eligible. If this needs to be adjusted based on your plan criteria, we can work with you to adjust this. - Employee Eligibility: To calculate eligible compensation based on plan entry, you can send us employee eligibility information that we will incorporate into the file we send to Pension Pro. 3. Finch will automatically send the data files to PensionPro in January on an agreed upon date. This completely eliminates Census File Preparation in PensionPro (Steps 4 & 5 below) in the process without Finch. |
2. PensionPro Onboarding: Launch Project |
Launch project(s) in PensionPro at the plan level. |
Launch project(s) in PensionPro at the plan level. Import data from Finch to the project. Note: The raw data file from Finch can be downloaded from the payroll dashboard in PensionPro to view all information contained with the file. When you choose to import it into the Project to show on Plan Sponsor Link (PSL), the fields that appear to your plan sponsor on PSL will be based on the data collection fields you have set up for that plan type. |
3. PensionPro Onboarding: PlanSponsor Link |
For the project, send a Census Request blast email to your sponsors to fill out their census details via PlanSponsorLink. |
For the project, send a Census Request blast email with the link to review and approve their census information via PlanSponsorLink. |
4. Census File Preparation in PensionPro: Plan Sponsor Data Export |
Plan sponsor exports 2024 data from their payroll provider. | Not required - time saved! |
5. Census File Preparation in PensionPro: Plan Sponsor mapping |
Plan sponsor manually maps and summarizes the export from the payroll provider to the fields required in the census file and populates the data via PlanSponsorLink. | Not required - time saved! |
6. Census File Approval in PensionPro (Plan Sponsor) |
Sponsor reviews and approves the data via PlanSponsorLink. | Sponsor reviews and approves the data via PlanSponsorLink. |